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Tuesday, January 3, 2017

Jobs in Demand in Oregon Don't Pay Enough to Make Rent Affordable

The Oregonian recently did a story HERE showing the top 100 occupations in Oregon based on projected annual job openings from 2014-2024 and included the 2016 median hourly wage for each of these occupations. I sorted the list and did a calculation of the weighted median wage for the 18 occupations that made up 50% of the projected annual job openings from these 100 occupations. As the table pasted below shows the weighted average median wage for those 18 occupations was $12 an hour, with the highest median wage of $41.55 (Registered Nurses) and the lowest $9.73 (Waiters and Waitresses ). I then went a step further and calculated the rent that would be affordable at the median wage for each of the occupations. For all 18 occupations the average median weighted hourly wage of $12 would make a $624 monthly rent affordable (at 30% of full time income). [Tip: To calculate an affordable monthly rent when you know the hourly full time wage, multiply the hourly wage by 52]. This $624 affordable rent at the weighted average median rent for these 18 occupations is lower than the HUD 2 BR FMR for EVERY county and metro areas in Oregon. (Oregon 2 BR HUD FMR's range from $681 to $1,242). Moreover, this $624 affordable rent at the weighted average median rent for these 18 occupations is ALSO lower the 1 BR FMR in every Oregon metro area, except Salem. (The Salem 1 BR HUD FMR is $612)

Banner Photo Credit

Testing new photos...I took this photo Easter morning 2013....Default photograph is of the Portland skyline at night abd was a featured photo on Wikipedia Commons. Information about the photographer, Eric Baetsche, and REQUIRED licensing information before using the photo can be found HERE: